Sterling Currency Group (SCG) filed a lawsuit against AltCharge which alleges numerous breaches of contract between the parties and that AltCharge is holding in excess of $2 million dollars of Sterling’s funds..

Frank Bell, COO at Sterling Currency Group stated that Sterling Currency Group had “spent a great deal of time, effort and money developing and integrating the eCheck system” and was very disappointed in Altcharge’s actions.

The Complaint alleges that AltCharge engaged in wrongful conduct when they collected funds from Sterling Currency Group’s customers but
did not make the payments due to Sterling or provide information as to where the funds were.